Former PF Changs CEO Damola Adamolekun has been named as the new chief executive of Red Lobster to help lead the company out of bankruptcy.

Investment management firm Fortress has appointed Adamolekun as CEO of RL Investor Holdings, a new entity that was formed to acquire the Red Lobster restaurant chain.

The acquisition will take place once the Red Lobster Chapter 11 plan is approved by the court, and Adamolekun will become CEO of the reorganized company.

Adamolekun was previously CEO of PF Changs. He also served as chief strategy officer and a partner at Paulson & Co, a New York-based investment firm and the principal owner of PF Chang’s.

After exiting Chapter 11, Red Lobster will continue to operate as an independent company, with 544 locations across 44 states and four Canadian provinces.

“I’m looking forward to working with our team members across North America to reinvigorate the brand by making it the best place to work for our employees and improving the experience for our guests,” Adamolekun said upon his appointment.